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Lower bounds rule!

  • R. I. LUTTENS

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    We propose two axioms that introduce lower bounds into resource monotonicity require- ments for rules for the problem of adjudicating con?icting claims. Suppose the amount to divide increases. The ?rst axiom requires that two claimants whose lower bound changes equally experience an equal change in awards. The second axiom requires that extra re- sources are divided only among those claimants who experience a strictly positive change in their lower bound. We show that, in the two-claimant case, Concede-and-Divide is the only rule that satis?es both axioms when the axioms are de?ned over a large set of lower bounds that include the minimal rights lower bound and the secured lower bound. We also show that, in the n-claimant case where at least one claimant claims the total amount, the Minimal Overlap rule is the only rule that satis?es both axioms when the axioms are de?ned over the secured lower bound.

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    File URL: http://wps-feb.ugent.be/Papers/wp_10_683.pdf
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    Paper provided by Ghent University, Faculty of Economics and Business Administration in its series Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium with number 10/683.

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    Length: 18 pages
    Date of creation: Nov 2010
    Date of revision:
    Handle: RePEc:rug:rugwps:10/683
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    Web page: http://www.ugent.be/eb

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    1. Juan Moreno-Ternero, 2006. "Composition, Securement, and Concede-and-divide," Spanish Economic Review, Springer, vol. 8(3), pages 227-237, September.
    2. Moreno-Ternero, Juan D. & Villar, Antonio, 2004. "The Talmud rule and the securement of agents' awards," Mathematical Social Sciences, Elsevier, vol. 47(2), pages 245-257, March.
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